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Advisors Capital Management LLC increased its stake in Toronto Dominion Bank (The) (NYSE: TD; TSE: TD) by 2.7% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission. The fund held 437,323 shares after purchasing an additional 11,586 shares in the quarter. Its Toronto Dominion Bank holdings were valued at $41,196,000 at the end of the most recent reporting period.
Several other large investors also reported changes to their positions in Toronto Dominion Bank:
Overall, institutional investors own 52.37% of the company’s stock.
Equities research coverage on Toronto Dominion Bank includes recent rating changes. Weiss Ratings upgraded the bank from a buy (B) rating to a buy (A-) rating on March 27. Zacks Research upgraded the stock from a hold rating to a strong-buy rating on February 18. Wall Street Zen upgraded the stock from a sell rating to a hold rating (date not specified in the source). Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a strong-buy rating to a hold rating on February 12.
In total, three analysts rate the stock as Strong Buy, two rate it Buy, and four rate it Hold. MarketBeat data cited in the source shows an average rating of Moderate Buy and an average price target of $93.
Toronto Dominion Bank shares opened at $105.08 on Friday. The stock has a market capitalization of $174.03 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.20, and a beta of 0.65. The 50-day moving average is $97.41 and the 200-day moving average is $91.51. The stock’s one-year range is $61.88 to $106.94.
Liquidity and leverage metrics cited include a debt-to-equity ratio of 0.09, a quick ratio of 1.05, and a current ratio of 1.05.
Toronto Dominion Bank last released earnings results on Thursday, February 26. The bank reported earnings of $1.76 per share for the quarter, exceeding analysts’ consensus estimates of $1.63 by $0.13. Revenue was $11.01 billion for the quarter, compared with analysts’ expectations of $10.43 billion.
The bank reported a return on equity of 14.29% and a net margin of 17.52%. Quarterly revenue was up 18.1% year over year. In the prior-year quarter, the firm posted $2.02 earnings per share. Analysts, on average, forecast that Toronto Dominion Bank will post 6.87 EPS for the current year.
Toronto Dominion Bank also announced a quarterly dividend payable on Thursday, April 30. Shareholders of record as of Thursday, April 9 will receive $1.08 per share. The ex-dividend date is Thursday, April 9. The dividend equates to $4.32 on an annualized basis and implies a dividend yield of 4.1%. The dividend payout ratio is currently 34.36%.
Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed in 1955 through the merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks, serving individual, small business, commercial, and institutional clients.
TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking, and insurance.
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